Why, apparently, did NO business journalist actually try to “sanity check” the Turnbull / Ellis spreadsheet?
If I can do it at all, then expert journalists with decade(s) of experience could’ve cranked the numbers in less than a day.

On the 8.9M DSL services, they were to save $1910 per line, valuing the Fibre install at $2810/line, or a total of $34.3 billion vs the $28.5 billion of the NBN Co 2012 Corporate Plan.
The Coaition estimate could never have been less than $26.5 billion.

Is the real Coalition NBN plan going to need CapEx of $20.5 billion or $35.6 billion, a 75% increase on their first estimate??
The electorate deserves an update.

The claimed $20.5 billion CapEx also fails basic sanity checks.
$8.1 billion in CapEx is traded for Opex and only 28% of FTTP network is built or $5.5 billion of $17.2 billion after (common) Access costs.
Then $8.1 billion has to be added for an FTTN.

That's $3.6 billion less in construction and $8.1 billion swapped for OpEx, for total CapEx savings of $11.5 billion, yet they turn a real $5.5 billion difference into a claimed $17 billion saving.

Conveniently $6 billion of "Other CapEx" has been ignored.
The sub-projets are now identified in detail by NBN Co.
Because the breakdown of CapEx and OpEx has been deliberately withheld, nothing is included in the plan.

Prime NBN Questions:

The Ninety Billion Dollar Swindle:

What does the NBN ‘Cost’?

Wrong question! It's an investment, it makes money for the taxpayer.

What was the extra cost to the taxpayer of Full Fibre:

around $10M-$20M/year.

Where’s the NBN in the Federal Budget?

Nowhere to be seen! The NBN is an INVESTMENT, not an Budget Expense:
For any investment, need to look at the Profit & Returns, not ‘Capital Cost’, plus the Risks.

The MTM is the Ultimate “road-block” - the Balkanised Network with no road back to Fast Broadband (fibre).

The MTM can never be upgraded and, just like all the incompatible State Rail Networks, only becomes more unprofitable and more expensive to fix as time goes on.

After the 2013 debacle, NO mainstream political party can ever afford to back Full Fibre again.

Magically, Turnbull was saving $17.4B out of the $17-$18 Fibre Rollout sub-Project
[ONLY FTTP was to be changed & Telstra still got paid per service.]
yet he was still spending ~$5.5B on Fibre and $8.1B on FTTN.

That’s $13B-$14B out right there [pretty much the 1st revised figure]

Peak Funding:
$29.5B “and not a penny more”

Notable because of the ZERO IRR, FTTN needed to be Fully Funded by Equity with NO additional borrowings.
Breaking this promise or premise is very, very bad news for NBN Co.

How will they still be “more affordable” but earn extra money to gain & payback private sector debt?]

versus $44.05B, of $30.4B Gov Equity + $14B commercial debt,

due to be raised at a time when they’d have strong cash-flows and an established P&L + Balance Sheet.

I’d already deduced the cost-per-premise of “passing” & “connecting" premises (~$1500 & $1100 per-premise install, most to Telstra to purchase ‘lead-in’).
[The NBN Co data released in April 2013 was $2450 & $1100, IIRC.]
There was also a Common Cost for all networks, incl FTTN: the “transit network” plus POI’s and the Software & Systems.
Turnbull always had to pay for the Telstra “disconnection” on top of the supposed $900/port connection cost, yet it doesn’t seem to be counted.